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Topic: Initial cap for BitShares X (Read 881 times)

Before the 2/28 snapshot 1 PTS was 0.03 BTC, after the snapshot it dropped to 0.01 BTC. Given that there are 1,500,000 coins in total it give us: (0.03 - 0.01) * 1,500,000 = 30,000 BTC - it's the total drop of the PTS cap which should transform to 15% of BitShares X cap (PTS part + 1/2 AGS part).

So the total BitShares X cap should be 30,000 / 15% = 200,000 BTC = $120,000,000.

Marcet cap can not be "calculated". BTS X will not have a price first and will find its price based on the buy/sell decision of a lot of individuals. Those calculations can be a basis to estimate what people will do. You based your calculations on PTS. If you base it on AGS it will be lower. I calculated something around 20 million... Wait and see

Oh sorry, I made a mistake. I thought 10% of BTS will come from PTS, and another 10% of BTS will come from AGS (like in future DACs), while actually it's 50%/50%.

So, in this case, it's not 15%, but 75%. I'm making a rough assumption the smart market evaluates the initial utility of BTS by the price drop. Some portions of all PTS (except those held for 1/2 AGS) goes to 50% of BTS. The remaining portion (held for 1/2 AGS) goes to 25% of BTS. The AGS part is tricky as it's not obvious how the smart market includes them (has this part been traded or considered to be traded?)

It gives us 30,000 BTC / 75% = 40,000 BTC = $24,000,000 (which is somehow in order with BldSwtTrs's and delulo's predictions).

If we ignore the AGS part, then we can say that total number of PTS coins is lower (maybe around 1,250,000 PTS), so the drop is something like 26,000 BTC, so it gives us: 26,000 / 50% = 52,000 BTC = $31,000,000.

(Sorry, I was lazy to take exact numbers, so everything is just a rough estimate).

The price of PTS and AGS gained a good amount in the lead up to the snapshot. These estimates are projections based on figures at that moment.

It would not be a stretch to think that when BTS rolls out we are not going to see another push of several magnitudes. The ceiling on a project like this seems really high, and the supply seems pretty low. And who doesn't like dividends?